Ask the Experts: A Conversation on Branding

In the world of marketing,
the concept of brand can be
interpreted in many different
ways. In an effort to explore
best practice, consistencies and
complexities in branding, the
Jones Journal brought together
experts to discuss top brands and
some of the challenges they face
in building brands.

Lisa Gordon, director of brand at
Waste Management

Vikas Mittal, J. Hugh Liedtke
Professor of Marketing at the
Jones Graduate School of
Business

Robin Tooms ’04, V.P. and
principal at Savage Brands

Left to Right: Lisa Gordon,
Vikas Mittal, and Robin Tooms ’04

1. What are the qualities you
look for in a top brand?

LG: A brand is much more than a
logo. A company really needs to live
its brand. The brand positioning
and personality should be ingrained
into its company culture and should
guide every business decision. A
brand isn’t just owned by marketing;
it’s owned by the entire organization.

VM: I have many favorite brands,
including Coca-Cola, Honda,
Hercule Poirot, Sailor fountain
pens and American Express. I like
them because it’s absolutely clear
what they stand for, they perform
consistently, and they never
disappoint.

2. How do you build an authentic brand experience?

RT: In B2B branding, the people
are the brand, so their actions
and behaviors are what brings the
brand to life. Most brands list a set
of core values, but these words
are intangible to customers — it’s
the behaviors based on those
values that they see. When you
connect behaviors to core values,
that’s when your brand experience
becomes true.

LG: Building an authentic brand
goes beyond the traditional
touchpoints of logos and marketing
collateral. You must consider all
the ways a consumer or customer
may interact with your brand —
everything from advertising and
websites to frontline employees
and invoices.

3. How, if at all, do brands contribute
to shareholder value?

VM: What do IBM, Coca-Cola, American Express, Wells Fargo,
Walmart and Procter & Gamble have in common? They comprise
over 70 percent of Warren Buffett’s portfolio. In 2009 some
marketing scholars published a large-scale study to understand
how brands contribute to a firm. They found that strong brands
decreased cash-flow variability and increased customer loyalty,
quality perceptions and market share. All of these in turn increased
the firm’s long-term value as measured by its stock price. It’s my
opinion that nobody understands this better than Warren Buffett.

4. What is a big brand challenge this year and
how will you address it?

RT: For our clients, there is still an environment of change and
consolidation. This change may be driven by internal organizational needs
or external M&A activities. Regardless, the need for separate teams to work
together is critically important. Branding can make huge strides here, as
once a group of employees starts to identify with common values, then it’s
easier to meet goals. That’s the power of branding — to connect people to a
shared purpose.